The IoT Lab, which is slated to open this summer, will be a 24,562-square-foot space that companies will pay a membership fee to use. Memberships will begin at $1,000 a year and will enable users to take up some residence onsite, either temporarily or permanently.

Companies can then bring their own equipment and devices onsite for testing and development. The lab aims to address four components of IoT solutions: ideation (for solution development), cloud data, edge hardware and product development. Different businesses may focus on different components, and the city expects some to team up to develop solutions.

ClearObject's John McDonald

"By aggregating all that talent in one space," Fadness says, the city expects the lab to be in a leadership position for IoT development not only in Indiana, but beyond the state as well.

Several IoT end-using companies are already planning to work with businesses at the lab, including Eli Lilly and Cummins Engine for connected diagnostics. The companies plan to implement IoT-based solutions to manage their products. "For them to take IoT projects and drop them on small companies like ours" may be unrealistic, McDonald says, while working with a team of companies at the lab will enable the development of solutions that can be quickly piloted and implemented.